FOMO - | fōmō | noun - a state of mental or emotional strain caused by the fear of missing out.
Did you know that bill FOMO is a real thing? It’s true. As the mercury starts to nose dive and heating thermostats start to climb, so too do electricity bills. With every additional electric blanket you add your electricity bill increases. Doesn’t sound like anything you’d fear on missing out on but did you know that if you join a Virtual Power Plant (VPP) you may find those winter bills not so scary.
While a few additional electric comforters don’t sound like much, let’s work on the theory that there is more than one electric blanket per household on your street, you’re also running the heating and you’ve still got all your standard appliances going. Add an electric fan heater to the mix and power usage really starts to climb. Just like in summer when we’re running the A/C constantly, the additional burden on electricity supply can cause power grids to groan and here’s where joining a VPP pays off.
A VPP is formed of a cluster of distributed generation systems that can provide power back into the grid at short notice, think of this like all the solar setups in your street having a conversation at the same time. When the grid is in need of support, the electricity retailers will issue an alert that to confirm that you have provided support for the gird.
When Reposit VPPs are activated in this way, they sell energy and stability services to the National Electricity Market (NEM). This small action from Reposit users makes a significant impact on their community by helping prevent blackouts and stabilising electricity supply but it’s not just the wider community that benefits. There are direct benefits to participating homeowners for their assistance.
But did you know that Repost customers with Reposit Partner electricity retailers will also be paid GridCredits® for their solar contribution when they are part of a VPP? The amount you get depends on your location, electricity plan and the size of your solar setup. This is on top of your solar feed-in tariff.
So how do you get involved? It’s pretty easy actually. All households with a Reposit Power solar energy setup can get involved. Once you’re all setup, you’ll need to contact your electricity provider to see if they offer GridCredits® plans. If you’re not already on a GridCredits® plan, we have provided more information on our website.
So in review, you’re helping out the community by pushing your unused solar power back into the grid and, potentially avoiding a rather inconvenient black out, as well as earning GridCredits® (and karma points).